S. AFRICA: Shoprite Reports Strong FY Growth

Shoprite Holdings, the largest retailer in Africa, has reported a strong rise in sales for its last fiscal year, helped by its international growth.

For the year, overall sales were up 14.4% to 130bn rand, with international sales up 32.6% and domestic sales up 10.9% (to 94.2bn rand).

The group opened 18 new outlets outside of South Africa, which helped offset the devaluation of currencies in some of those markets.  At home, it was helped by the improved results of its Checkers banner, which recorded sales growth of 11%, and its LiquorShop banner (sales up 32.3%).